Teaching Price Controls in Economics with Online Assignments
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New! Teaching Price Controls in Economics with MobLab Online Assignments

Nicole Imhof
In my experience as an economics TA, price controls are a fascinating topic to bring to discussion in lecture. Students always bring so many questions to the subject: is minimum wage just a price ceiling? Why is a price floor above equilibrium? What are the benefits and consequences of rent control? These questions, which are often tied to real world situations relevant to students’ lives, can foster a great discussion about the concept of price controls and their impact on market equilibrium, consumer and producer surplus, and dead weight loss. MobLab is a great platform to help students find the answers to their price controls questions!

Therefore, we are excited to share with you the new Price Controls Online Assignment. This Online Assignment comes ready-made with a sequence of price controls games and activities for your students. Video instructions for the competitive market game, games featuring a price floor and ceiling, and follow-up surveys to check student understanding are all included in the Online Assignment. Simply add the assignment to your playlist, schedule it to run, and your students are on their price controls journey!

The Price Controls Online Assignment includes three rounds of our competitive market game - one with no interventions, one with a price ceiling, and one with a price floor. The rounds with price controls are followed by debrief questions and concept review videos from our friends at MRU. The debrief questions allow students to think critically about the market they just experienced and the videos summarize the concept with real world examples. Students are also presented with a set of key takeaways from the assignment to ensure their understanding of price controls is locked in! 

Want to learn more about price controls in economics? Get in touch with our team! Whether you want to run an experiment in class or let your students walk through an assignment on their own time, MobLab has got you covered. Click here to schedule a one on one demo meeting.